Brokerages Set South Bow Corporation (NYSE:SOBO) PT at $28.80

Key Points

• South Bow Corporation (NYSE:SOBO) has received a consensus rating of "Hold" from thirteen research firms, with three analysts recommending a sell, while only one analyst suggests a buy.
• The company's recent quarterly earnings report showed an EPS of $0.42, beating estimates by $0.04, and revenue of $524 million, surpassing expectations of $449 million.
• South Bow announced a quarterly dividend of $0.50 per share, resulting in an annualized yield of 7.5%, with a payout ratio of 108.11%.

South Bow Corporation (NYSE:SOBO - Get Free Report) has been given an average recommendation of "Hold" by the thirteen analysts that are covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation, one has given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $28.80.

A number of research analysts have issued reports on the stock. National Bankshares increased their target price on shares of South Bow from $25.00 to $26.00 and gave the company a "sector perform" rating in a report on Friday, August 8th. CIBC increased their target price on shares of South Bow from $25.00 to $26.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of South Bow in a report on Friday, August 8th. Finally, JPMorgan Chase & Co. reaffirmed an "underweight" rating and issued a $27.00 target price on shares of South Bow in a report on Thursday, August 21st.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SOBO. Louisbourg Investments Inc. purchased a new position in shares of South Bow during the 1st quarter worth approximately $31,000. BNP Paribas Financial Markets purchased a new position in shares of South Bow during the 4th quarter worth approximately $29,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of South Bow by 1,993.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,340 shares of the company's stock worth $35,000 after purchasing an additional 1,276 shares in the last quarter. Tower Research Capital LLC TRC purchased a new position in shares of South Bow during the 4th quarter worth approximately $35,000. Finally, Caitong International Asset Management Co. Ltd increased its stake in shares of South Bow by 150.0% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 1,550 shares of the company's stock worth $40,000 after purchasing an additional 930 shares in the last quarter.

South Bow Stock Performance

NYSE SOBO traded up $0.22 during trading hours on Wednesday, hitting $27.72. 694,974 shares of the stock were exchanged, compared to its average volume of 550,638. The company has a market cap of $5.77 billion and a price-to-earnings ratio of 14.99. South Bow has a 12-month low of $21.12 and a 12-month high of $28.22. The stock has a 50-day moving average of $26.71 and a 200 day moving average of $25.92. The company has a quick ratio of 1.20, a current ratio of 1.28 and a debt-to-equity ratio of 2.19.

South Bow (NYSE:SOBO - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.04. The firm had revenue of $524.00 million for the quarter, compared to analysts' expectations of $449.00 million. As a group, equities research analysts forecast that South Bow will post 1.74 earnings per share for the current year.

South Bow Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 29th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, September 29th. This represents a $2.00 dividend on an annualized basis and a yield of 7.2%. South Bow's dividend payout ratio (DPR) is 108.11%.

About South Bow

South Bow Corp is a strategic liquids pipeline company. It is a new liquids-focused midstream infrastructure company. South Bow Corp is based in Canada.